Esterline Technologies (ESL) Acquires 689K Common Shares from Relational Investors

Esterline Corporation (NYSE: ESL) today announced that it has acquired 688,885 of its common shares from Relational Investors LLC and certain affiliates (Relational) at $92.65 per share, for a total purchase price of approximately $64 million.

The per-share purchase price represents a 2.5% discount from the volume weighted average of the closing prices of a share of Esterline common stock on the New York Stock Exchange on the five consecutive trading days ending on and including July 6, 2015. Esterline completed the transaction as a part of the company's current share repurchase program and funded the purchase with a combination of cash on hand and short-term borrowings under its existing credit facility. Following the completion of the transaction, Relational owns 1,464,658 shares, or less than 5%, of Esterline's common shares.

This transaction was made pursuant to a Stock Repurchase Agreement filed today with the Securities and Exchange Commission.

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